Technical analysis by makhmikhd about Symbol PAXG: Sell recommendation (5/3/2025)

This analysis presents a short-term Elliott Wave count on Gold (XAUUSD) in the 15-minute timeframe.The current structure suggests a standard Zigzag correction (5-3-5) unfolding from the recent high:Wave A formed a clean 5-wave impulsive declineWave B developed as a contracting triangle (A-B-C-D-E)Wave C appears to be in progress, with projected targets between 3170–3090🔴 Invalidation level:A break above 3248 invalidates this scenario and suggests that the correction is either complete or transforming into a different pattern.🌀 Alternative Scenarios:If price fails to reverse within the key support zone (3170–3090) or extends much deeper:We may be witnessing Wave 3 of a higher-degree ZigzagOr, this drop may be Wave A of a larger Flat correction in development🗨️ What’s your view?Do you agree with the Zigzag count?Or do you expect a deeper, more complex correction to unfold?Share your take in the comments below 👇